Discover Bank vs Ally Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Ally Bank? Read our comparison chart below.
Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms. There are no service fees.
While Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.
Compare Discover Bank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings and reviews.
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Visit Site | Learn More | |
Discover Bank | Ally Bank | |
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Online Savings Account - Earn 3.40% APY - | Online Savings Account - 3.40% APY - | |
Benefits and Features | ||
Savings | ||
CD | 2.00% to 4.00% APY depending on terms | 3.00% to 3.90% APY. Terms of 3 months to 5 years. 12-month CD APY of 3.85% |
Checking | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 | |
Money Market | ||
Mobile App | ||
ATMs | 75,000+ no-fee Allpoint and MoneyPass ATMs | |
Customer Service | ||
Locations | ||
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | |
Checking | ![]() ![]() ![]() ![]() ![]() | |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Mobile App | ![]() ![]() ![]() ![]() ![]() | |
Customer Service | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | Solid online bank with high APY rates and good customer service... | |
Visit Site | Learn More | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Discover Bank: Pricing information and data points from published website as of 09/30/2025. Ally Bank: Pricing information from published website as of 10/10/2025. |
Online Savings Account - Earn 3.40% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Certificate of Deposit
- 3.50% APY for 6-month term
- 4.00% APY for 12-month term
- 3.80% APY for 18-month term
- 3.60% APY for 24-month term
- 3.60% APY for 36-month term
- 3.60% APY for 5-year term
Discover® CD Rates
- No minimum opening deposit required
- No fees
- FDIC insured
Term | CD Rates |
---|---|
3 Months | 2.00% APY |
6 Months | 3.50% APY |
9 Months | 3.50% APY |
1 Year | 4.00% APY |
1.5 Years | 3.80% APY |
2 Years | 3.60% APY |
2.5 Years | 3.60% APY |
3 Years | 3.60% APY |
4 Years | 3.60% APY |
5 Years | 3.60% APY |
7 Years | 3.50% APY |
10 Years | 3.50% APY |
Which is Better: Discover Bank or Ally Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Discover Bank or Wells Fargo.